HSBC Holdings will eliminate as many as 25,000 jobs in cost-cutting by 2017 as chief executive Stuart Gulliver seeks to reverse profit declines.
Europe’s largest bank plans to reduce full-time employees by 22,000 to 25,000, or about 10 per cent of staff, the lender said in a presentation on its website on Tuesday.
HSBC will aim for annual cost savings of $4.5 billion to $5 billion by 2017 and sell businesses in Turkey and Brazil, according to a...
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